Jefferies Financial Group Lowers Pacific Gas & Electric (NYSE:PCG) Price Target to $20.00

Pacific Gas & Electric (NYSE:PCG) had its target price cut by investment analysts at Jefferies Financial Group from $21.00 to $20.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the utilities provider’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 33.91% from the company’s current price.

Other research analysts have also issued reports about the company. Barclays increased their target price on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Morgan Stanley reissued an “underperform” rating on shares of Pacific Gas & Electric in a research report on Wednesday, January 21st. Wells Fargo & Company boosted their price target on Pacific Gas & Electric from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Mizuho set a $21.00 price target on shares of Pacific Gas & Electric in a research note on Wednesday, January 21st. Finally, Wall Street Zen upgraded Pacific Gas & Electric from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.55.

Pacific Gas & Electric Price Performance

Shares of Pacific Gas & Electric stock traded down $0.24 during trading on Wednesday, hitting $14.94. 12,092,227 shares of the company were exchanged, compared to its average volume of 21,471,891. The stock has a market capitalization of $32.83 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 0.58 and a beta of 0.38. The firm has a 50 day moving average price of $15.62 and a 200 day moving average price of $15.42. Pacific Gas & Electric has a fifty-two week low of $12.97 and a fifty-two week high of $17.95. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81.

Insiders Place Their Bets

In other news, Director John O. Larsen acquired 7,500 shares of the stock in a transaction on Tuesday, November 4th. The shares were purchased at an average cost of $15.96 per share, for a total transaction of $119,700.00. Following the transaction, the director owned 18,111 shares in the company, valued at approximately $289,051.56. This trade represents a 70.68% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Pacific Gas & Electric

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Pacific Gas & Electric by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 58,079,843 shares of the utilities provider’s stock worth $819,447,000 after purchasing an additional 1,676,093 shares during the last quarter. Quinn Opportunity Partners LLC increased its position in shares of Pacific Gas & Electric by 510.0% during the second quarter. Quinn Opportunity Partners LLC now owns 960,456 shares of the utilities provider’s stock valued at $13,389,000 after purchasing an additional 803,000 shares during the period. SG Americas Securities LLC increased its holdings in Pacific Gas & Electric by 3,875.9% in the 4th quarter. SG Americas Securities LLC now owns 639,689 shares of the utilities provider’s stock valued at $10,280,000 after buying an additional 623,600 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in Pacific Gas & Electric by 499.7% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 433,064 shares of the utilities provider’s stock valued at $6,037,000 after acquiring an additional 360,845 shares during the period. Finally, Mediolanum International Funds Ltd raised its holdings in shares of Pacific Gas & Electric by 49.9% in the 3rd quarter. Mediolanum International Funds Ltd now owns 947,127 shares of the utilities provider’s stock worth $14,264,000 after buying an additional 315,133 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

About Pacific Gas & Electric

Pacific Gas & Electric (NYSE: PCG) is an investor-owned utility holding company whose principal operating subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas service in northern and central California. The company’s core activities include the generation, procurement, transmission and distribution of electric power, as well as the transmission and distribution of natural gas. PG&E serves a broad mix of residential, commercial, and industrial customers across urban and rural communities within its California service territory.

PG&E’s operations encompass utility infrastructure planning and construction, grid operations, customer service and energy procurement.